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MRC Global (MRC) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, MRC Global (MRC - Free Report) closed at $12.19, marking a -1.22% move from the previous day. This change lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 1.1%.
Coming into today, shares of the energy products distributor had gained 6.66% in the past month. In that same time, the Industrial Products sector gained 3.84%, while the S&P 500 lost 0.01%.
Wall Street will be looking for positivity from MRC Global as it approaches its next earnings report date. This is expected to be February 13, 2023. In that report, analysts expect MRC Global to post earnings of $0.19 per share. This would mark year-over-year growth of 11.76%. Meanwhile, our latest consensus estimate is calling for revenue of $866.4 million, up 26.3% from the prior-year quarter.
Any recent changes to analyst estimates for MRC Global should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. MRC Global currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, MRC Global is holding a Forward P/E ratio of 7.81. This valuation marks a discount compared to its industry's average Forward P/E of 13.42.
The Steel - Pipe and Tube industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 15, which puts it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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MRC Global (MRC) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, MRC Global (MRC - Free Report) closed at $12.19, marking a -1.22% move from the previous day. This change lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 1.1%.
Coming into today, shares of the energy products distributor had gained 6.66% in the past month. In that same time, the Industrial Products sector gained 3.84%, while the S&P 500 lost 0.01%.
Wall Street will be looking for positivity from MRC Global as it approaches its next earnings report date. This is expected to be February 13, 2023. In that report, analysts expect MRC Global to post earnings of $0.19 per share. This would mark year-over-year growth of 11.76%. Meanwhile, our latest consensus estimate is calling for revenue of $866.4 million, up 26.3% from the prior-year quarter.
Any recent changes to analyst estimates for MRC Global should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. MRC Global currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, MRC Global is holding a Forward P/E ratio of 7.81. This valuation marks a discount compared to its industry's average Forward P/E of 13.42.
The Steel - Pipe and Tube industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 15, which puts it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.